If pictures paint a thousand words, then videos exponentially increase those words – and anyone in the online advertising and marketing scene knows just how video can drive in customers. With users flocking en masse to the Internet from TV, advertisers are also quick to shift their focus.
Steven Danson, an entrepreneur who has been working in the pay per click, display, and mobile advertising scene since 1999, has experienced this shift firsthand. Based on his experience, he confirms that advertising dollars are increasingly being rerouted to online video advertising.
Quite logically, Google is at the head of the pack when it comes to online advertising, and as the company’s track record has shown, it is also the home of bleeding edge ideas and technology.
Enter its newest “product,” Google Partner Select.
What is Google Partner Select?
Google describes it as “a programmatic premium video marketplace.” This is the result of a need that Google has seen – a need which basically derives from brands and agencies who want premium video ad content, which they can find easily and in a transparent marketplace. According to Google, video ad spending will grow from $4 billion in 2013 to nearly $6 billion this year. This growth is not limited to the U.S. alone. In the UK, reports show that revenue from video advertisements will more than double from this year to the year 2018. That is a huge need that Google Partner Select is meant to fill.
With this new marketplace, publishers and advertisers can connect easily, taking advantage of programmatic advertising while being in control of their transactions. The end goal of Google Partner Select is to connect a select set of publishers investing in top-quality video with the brands that want to buy.
How does Google Partner Select impact online video advertising?
Steve Danson, President at Keyword Digital, explains: “The sheer magnitude of Google’s reach via Youtube, plus its Search and Display network, says it all. Google can lead the online video advertising segment with its Partner Select Marketplace by leveraging its proprietary sites such as YouTube and Google.com along with its ad network , which is unarguably the largest in the industry. This size and diversity allow Google to hit the ground running by providing advertisers and publishers access to a large, automated ad exchange that is entirely dedicated to video. Due to Google’s reach, video advertisers will have the ability to simultaneously reach larger and more diverse audiences while having the added option of detailed, automated programmatic targeting. This will no doubt be the largest platform of its kind in the industry.”
What about the timing?
The online landscape constantly changes, and this is the perfect time for a new setup in the video advertising realm. Google already has something similar in place with YouTube, so why not extend that to the rest of the web at this point? Nothing is holding the firm back.
When we asked Steven Danson, “Why do you think Google chose to launch partner select now?” he explained:
“People are now viewing, sharing, and interacting more with online video, which propels the advertising segment. Generally, as bandwidth has increased over the past decade, advertisers have been exceedingly able to pass more engaging content to users. Additionally, now that mobile bandwidth is at a level at which streaming video can be delivered seamlessly from any interface, video is becoming an even more important venue for advertisers. With video advertising, users can be engaged with rich video commercials that allow the advertiser to leave the user with a more positive brand perception.”
Telecommunications technology has reached the level where people have access to information via their mobile devices at a speed that is comparable to more traditional devices such as the desktop. In fact, Internet mobile speeds can even deliver faster access depending on location, device, and carrier.
However, until this point, TV ads have had one thing that, in general, online ads have not had: the ability to connect with viewers in a more emotional manner. Steve Danson elaborates:
“That has always been the advantage of television media; it has had a greater ability to touch the user, leaving them with a more positive feeling associated with the brand as compared to print, online display, and radio advertising. When combining automated programmatic targeting tools with video, the advertiser can have that ‘touching effect’ on the user while more efficiently targeting the user they are looking for. Programmatic video advertising marketplaces like Target Select take video targeting and retargeting to a more efficient level, requiring significantly less time for the buyer to aggregate their intended customers and deliver their video message.”
Danson continues, “With the increasing shift of consumers accessing entertainment, information, and retailers through online and mobile devices, advertisers are more able to have that “touching effect” on their potential and existing customers.”
The propensity that consumers now have for online and mobile video content combined with the targeted methods Partner Select offers render a truly perfect time for the platform’s launch.
While the average content consumer may not immediately appreciate the impact that Google Partner Select will have, publishers and advertisers have a new and useful tool at their fingertips. Advertisers will be able to reach their video audience on a larger scale and in a more efficient manner, while publishers will have access to an increased quantity of video advertisers and maintain greater control over what type of advertisements they accommodate. With time, users will also be able to appreciate the fact that they find the video ads presented to them to be more relevant and interesting.